BEL posts 30% rise in profit

By agencies   |   Tuesday, 18 April 2006, 07:00 Hrs
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BANGALORE: Defense undertaking Bharat Electronics Limited (BEL) reported its highest-ever turnover of $809 million for 2005-06, posting a net profit of $132 million, a robust 30 percent rise over the previous year.

The Chairman and Managing Director, Y. Gopala Rao, told media persons that the Bangalore-based public sector undertaking had recorded a turnover of $730 million during 2004-05 with the profit after tax at $101 million.

Defense supplies continued to be the main strong suit accounting for about $681 million in turnover as against 2,800 crore. The civilian business value was reported at $636 million.

"We do not want to depend only on defense as security needs keep changing. We need to do the balancing act with civilian business," Rao said, adding that the target was to ensure that 20-25 percent of business was in civilian area.

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